NEWS & NOTABLES
CHICAGO—Donna Gaines, founder of Chicago-based Gaines International, a wholly-owned subsidiary of Allen Austin, has returned as managing partner to lead the top 40 global management consulting firm. The executive search and recruiting firm serves the architecture, interior design, engineering, construction and real estate development industries. It was acquired by Houston-based Allen Austin in 2014, which maintains regional offices across the country. “Donna is affectionately known as ‘the godmother’ in the AEC industry for her ability to acquire the highest-caliber talent, as well as strategically place individuals in positions best suiting their goals and expertise,” says Rob Andrews, chairman and chief executive officer of Allen Austin. Gaines founded her namesake firm in Atlanta in 1981 and subsequently relocated the firm to Chicago. It successfully executed more than 3,000 search engagements from project managers to C-suite executives. After negotiating the sale, she assisted design firms in setting up ESOP’s, advisory boards, value acceleration programs, valuations and more.
KANSAS CITY—TCN Worldwide has appointed Paul Licausi as its central regional vice president. In this role, Licausi will oversee the operations in the central region of the US, serve as an advisor to the member firms in the region, as well as act as a liaison with corporate headquarters. “At TCN Worldwide, we are committed to continually enhancing the level of collaboration and communication between our member firms,” says H. Ross Ford, president and chief executive officer. “The role of regional vice president is an important one in our organization. Together, TCN’s regional vice presidents make a tremendous impact, enhancing regional initiatives while building synergy within their respective regions and throughout the organization as a whole.” Licausi, president of LS Commercial Real Estate/TCN Worldwide, has been active in the industry for more than 30 years. He founded LS CRE and also developed more than five million square feet of commercial property nationally.
KANSAS CITY—Hunt Midwest has hired Vince Johnston as vice president and chief financial officer-elect, replacing Don Hagan, who will retire on June 30th after 41 years with the Kansas City-based company. “Vince brings more than 25 years of financial experience in the real estate investment and development industry to Hunt Midwest,” says Ora Reynolds, president and chief executive officer. “As we transition Vince into this role, we are confident that his breadth of experience will enhance our team as well as bring a fresh perspective.” Johnston most recently served 12 years as chief financial officer for Block Real Estate Service and, prior to that, two years as chief financial officer at Cohen-Esrey Real Estate Services. He began his career in Dallas as a staff accountant with Trammell Crow Co. and subsequently returned to his native Kansas City where he served as controller for both Lioness Realty Group and MC Real Estate Services for almost a decade.
DEALTRACKER
GREEN BAY, WI—Stage Equity Partners LLC, a Chicago-based private real estate investment firm focused on healthcare assets, has acquired St. Mary’s Medical Office Building in Green Bay, WI for $7.275 million. St. Mary’s Hospital Medical Center, as well as St. Gianna Clinic, lease 100% of the 50,000 square-foot on-campus building. Stage purchased the property from its long-time physician owner with a new 10-year lease extension. Chicago-based lender MB Financial provided the financing. Located at 1727 Shawano Ave., the property sits directly across the street from St. Mary’s Hospital Medical Center. Considered part of the hospital campus, the property plays a mission critical role for the hospital, offering heart care, physical and occupational therapy, behavioral health care, fertility care and other specialty healthcare services. “With advances in technology and a shift toward outpatient medical services, the medical delivery model is moving toward conveniently located medical office buildings like the St. Mary’s,” says Stage principal Russell Brenner.
CHICAGO—Avison Young has just negotiated the sale of a four building, 74,42-square-foot medical office portfolio in Chicago’s suburban market. The JOHA Cancer Center portfolio includes buildings located at 2614 W. Jefferson and 254 Republic Ave. in Joliet, IL; 668 Cedar Crossing Dr. in New Lenox, IL; and 1600 W. Rte. 6 in Morris, IL. Nationally recognized healthcare tenants with strong ties to local and regional healthcare systems lease 100% of the space. Avison Young principals Erik Foster and Mike Wilson, both based in the company’s Chicago office and members of the firm’s national healthcare capital markets group, represented the seller, a partnership of physicians associated with Joliet Oncology Hemotology Associates. The Chicago team worked with principals Chip Ryan and Jim Kornick in Avison Young’s Washington, DC office. The buyer was Franklin, TN-based Community Healthcare Trust. Financial details were not disclosed.
CHICAGO—Brian Carroll, executive managing director in Newmark Knight Frank’s Chicago office, represented and advised K2 Express, Inc. in completing two long-term leases, including a renewal and expansion in Franklin Park, IL, and a new, long-term lease for a neighboring, four-acre trailer yard. The freight shipping and trucking company signed a 91,859-square-foot renewal and expansion at 10800-10900 Belmont Ave. in Franklin Park. The space is part of a 600,000-square-foot, multi-tenant building owned by Prologis. Carroll represented K2 Express, while Scott Gibbel negotiated on behalf of Prologis. Cushman Wakefield is the landlord’s agent. In addition, K2 Express signed a long-term lease for a four-acre, fenced and paved 90-stall trailer yard neighboring the property on Charles St. Carroll represented K2 Express, while Steve Levitas and Bob Chodos, NKF vice chairmen, represented the landlord Hill Mechanical.
CHICAGO—Dermody Properties, a national real estate investment, development and management company specializing in acquisitions and development of logistics real estate in the US, recently acquired from New York Life Investment the Green Oaks Business Center in Green Oaks, IL, just north of Chicago. Tenants, which include Fidelitone, Forward Space and Illinois Tool Works, currently lease 86% of the industrial park, which consists of three class A buildings totaling 462,300 square feet. The buildings include 13820 Business Center Dr., 13825 Business Center Dr. and 13950 Business Center Dr. “Chicago is one of the key logistics markets in the US,” says Michael Dolan, Midwest region partner for Dermody. “Steve Disse and Jeff Devine of Colliers International presented us with the opportunity to purchase the property, and we are pleased to be adding it to our Chicago-area portfolio.” Sam Badger, Whit R. Heitman, Jared Paff and Brad Weiner of CBRE will now market the property for lease.
KANSAS CITY—JLL has just completed the successful negotiation of a new office lease on behalf of C2FO for the company’s new corporate headquarters. The global financial technology firm has relocated to the 20/20 Building, located at 2020 W. 89th St. in Leawood, KS, from the Fairway Corporate Center in Fairway, KS. “We are excited to continue our growth trajectory utilizing the larger space allowing for improved associate collaboration and customer engagement,” says Kerri Thurston, C2FO chief financial officer. Larry Glaze, JLL managing director and Anne Erickson, associate, negotiated the 32,958-square-foot office lease on behalf of the tenant. “Our region is an engaging, innovative hub for cutting-edge tech companies like C2FO,” says Glaze. “Accessibility to valuable resources and our deep labor pool make us one of the best places to do business. We’re thrilled to play a role in securing their new corporate home.”
BUILDING BLOCKS
CHICAGO—Skender, serving as base building and interior construction manager, has broken ground on Chicago’s newest Hyatt House extended-stay hotel. The new 14-story, 167,000-square-foot hotel is at 105 N. May St. in the heart of Chicago’s Fulton Market neighborhood. It will be the first Fulton Market hotel to cater to extended-stay corporate travelers, and includes amenities ranging from an indoor pool and multiple green roof features. The 200-room hotel will open in summer 2019 and also offer future retail space. Sterling Bay is the hotel’s developer and Skender is collaborating with project architect Eckenhoff Saunders Architects. Skender has recently completed projects throughout the neighborhood. At 1K Fulton, it created spaces for Google, the SRAM headquarters and Swift & Sons. And at 1330 W. Fulton, Skender constructed its own headquarters and the headquarters for Sterling Bay, as well as spaces for The Climate Corp. and Glassdoor.
CHICAGO—Chicago-based Spaces Real Estate has started pre-leasing at Hazel Place, a 15-unit rental community under construction in Chicago’s Buena Park neighborhood. Located at 4337 N. Hazel St. and originally built in 1901, Chicago-based Arbor Investment Management LLC is renovating the three-story brick building and has retained Spaces as the exclusive leasing brokerage. The first tenants will move in next month. “It was one of the first luxury apartment buildings in Buena Park, so it’s a landmark within the neighborhood that has been reimagined for a new generation of renters,” says Bentley Phillips, founder Spaces Real Estate. “The building’s vintage charm, modern floor plans and amenities, and walkable location near the lakefront make Hazel Place a true standout in the North Side rental market.”